Why V1 over J1?

I have pretty much talked myself into getting one of these cameras-specifically the J1. This will be my "mom" camera to take pictures of my family when I don't want to lug around my D700. But then I did our taxes and discovered I will have a little more money to play with. Now I am wondering if I should get the V1 instead, or if the J1 will suit my purposes just fine. I basically want to use it as a point and shoot that takes better pictures of my young boys than my Canon s95 does.

Thanks for any insight those of you who have gone through the same decision making process might have.